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24585 Zena Court Mission Viejo, CA 92691

3 Beds 2 Baths 1,416 sqft Built 1976

$690,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $487.29
  • 7 Days on Market
  • MLS # : LG21146603
  • Updated Date : 07/12/2021 at 12:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,416 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Completely remodeled with an open concept floorplan this centrally located, turnkey home offers a spacious ONE story layout! This 3 bedroom 2 bath home is an end unit which provides added privacy and a spacious feel. Relax & unwind in your spacious master suite with brand new remodeled bathroom and generous walk in closet. This lovely home offers 2 low-maintenance outside courtyard areas, both fully enclosed & private. The kitchen/living area opens to a private outdoor living space perfect for grilling or dining al fresco! This home has been lovingly maintained and upgraded and all the major improvements done for you, including dual pane windows, new kitchen and bathrooms, recessed LED lighting and more! The HOA offers a pool, spa, bbq areas and clubhouse available for private parties/functions as well as a park all within walking distance. Conveniently located with easy access to freeways, toll road, shopping, restaurants, award wining schools and only a quick drive to OC's finest beaches, hiking & resorts. Hurry, this home is a must see and won't last long!

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MARKET HIGHLIGHTS

  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]

PRICE & RENT TRENDS

Neighborhood: Mission Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Mission Viejo

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18713818

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
La Paz Intermediate School Middle Regular 862 31 8
Mission Viejo High School High Magnet 2,438 92 8
La Paz Intermediate School Middle Unknown NA

La Paz Intermediate School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 31
8
GreatSchools Rating

Mission Viejo High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 92
8
GreatSchools Rating

La Paz Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$621,000$759,000$690,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,397
Property Tax -$594
Property Insurance -$61
HOA -$410
Property Management Fees -$141
CASH FLOW
-$723

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$690,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,600

INVESTMENT

$188,600

Down Payment
$172,500
Rehab Estimate
$5,750
Closing Costs
$10,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,397

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,500
Loan Amount $517,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,395

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,880

    LIST RENT
  • $2.03

    LIST RENT PER SQFT
  • $3,055

    COMP ESTIMATED VALUE
  • $2.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,8803$3,2504$3,3005$3,350
$3,350
RENT COMPS ANALYSIS
  • 24585 Zena Court Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $2.03
    •  
  • 24161 Castilla Lane Mission Viejo, CA 1
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1967
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.10
    •  
  • 25866 Malia Court Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1978
    LEASED 07/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.24
    •  
  • 23831 San Esteban Drive Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.11
    •  
  • 26091 Avenida Bonachon Mission Viejo, CA 5
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1968
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.18
    •  
PROPERTY LISTING DETAILS
Jasana Singer
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: LG21146603
Last Updated: 07/12/2021
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